Tag: Fintech Industry

EnrichVideo (Amigobulls) – Helping Businesses Drive Growth

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by EnrichVideo (Amigobulls).

Organizations can utilize big data analytics to leverage their data and find new opportunities. As a result, smarter business decisions, more effective operations, higher profits, and happier consumers are the result. Big Data is used by businesses to improve their marketing efforts and techniques.

Amigobulls uses big data tools to expedite the fundamental research of hundreds of equities. The company uses an in-house built video platform to give the viewer an easy-to-understand analysis in the form of videography. This video platform was named EnrichVideo and later, Amigobulls slowly shifted its brand towards it.

As of 2018, Amigobulls has been rebranded to EnrichVideo.

EnrichVideo – Company Highlights

Startup Name	EnrichVideo
Headquarters	California, U.S.
Industry	Investment Banking, Fintech
Founders	Poorna Nayak, Mandeep Makkar and Chandu Sohoni
Founded	Amigobulls – 2013-2018, EnrichVideo 2018-present
Areas Served	Worldwide
Formerly Known as	Amigobulls
Website	www.enrichvideo.com

EnrichVideo – Latest News
About EnrichVideo and How it Works?
EnrichVideo – Name, Logo and Tagline
EnrichVideo – Founders and History
EnrichVideo – Mission and Vision
EnrichVideo – Business Model
EnrichVideo – Revenue and Growth
EnrichVideo – Funding and Investors
EnrichVideo – Competitors
EnrichVideo – Future Plans
EnrichVideo – FAQs

EnrichVideo – Latest News

As of July 2019, Amigobulls’ EnrichVideo Platform has received the ISO 27001:2013 certification which is the international standard outlining the best practices for information security management systems.

About EnrichVideo and How it Works?

Amigobulls used to employ big data analytics to provide individual investors with in-depth insights into a company’s financial and stock price performance, allowing them to make more informed investment decisions. On amigobulls.com which now redirects you to EnrichVideo.com, investors may get technological stock analyses, as well as thorough articles, videos, and discussion boards. This is very beneficial for bloggers.

The founders, who are specialists in technology and finance, bring together successful start-up expertise from a variety of industries, including technology, media, and telecom. It says that each stock is evaluated using a rigorous list of 56 check points, followed by a review by their finance and technology specialists.

Experts at the firm use the most up-to-date big-data techniques to give you the most up-to-date information and analysis on the technology sector. It thinks that any investor interested in technology stocks should have access to high-quality, impartial news and analysis videos.

Amigobulls Inc, a personalized video platform provider, has built EnrichVideo Platform for Hexagon Wealth, a renowned wealth management firm in Bangalore. Hexagon Wealth is the first wealth management firm in India to provide personalized movies as portfolio statements to all of its clients.

EnrichVideo – Name, Logo and Tagline

EnrichVideo ‘s company description says, “We Help Businesses Drive Growth Through Personalized Videos!”

Enrichvideo Company Logo

EnrichVideo – Founders and History

Poorna Nayak together with CEO Chandu Sohoni and Mandeep Makkar, co-founded Amigobulls which is now known as EnrichVideo. Mandeep Makkar has since left their post after the rebranding.

Amigobulls was founded in mid-2013 by investment and technology specialists with a clear goal of serving US retail stock market participants. The company is developing a YouTube-style platform where analysts and amateurs may post their own stock research videos.

Amigobulls’ three founders worked previously with each other at NewsHunt (now remaned DailyHunt), India’s leading mobile news application, and have decades of expertise in a variety of startups and multinational corporations.

Chandu is a successful entrepreneur who has founded profitable telecom, media, and mobile technology companies. He is a technician with a passion for the stock market, with years of expertise and skills in building profitable businesses. Chandu is a seasoned investor who keeps a close eye on the financial markets in the United States and actively invests in them. He was the creator and Chief executive Officer of NewsHunt (now DailyHunt), a mobile news media startup, prior to founding Amigobulls.

Poorna is in charge of marketing and customer service. She was an early part of the NewsHunt team, India’s leading mobile news app with millions of active users, prior to joining Amigobulls. Poorna offers unique expertise in product design and digital marketing to help build a successful digital client engagement platform, has been a major member of the NewsHunt team.

“It is a unique combination of high quality financial analysis provided using big data and video technologies. Our current focus is on analyzing US technology stocks but the patent pending technology allows us to expand beyond tech-stocks and also beyond North American markets. New age investors have no time to read long analysis reports and have a clear preference for multimedia content. Amigobulls provides media rich stock analysis with actionable insights. After initial struggles in understanding US consumer behavior the team came up with many innovative ideas including the presentation of financial analysis in short video format. We also enabled financial analysts to create video blogs using our charts and videos. After these initiatives were launched in early 2015, user traction has significantly increased with the monthly active unique user base about to reach 100,000,” said CEO & Founder of EnrichVideo, Chandu Sohoni.

EnrichVideo – Mission and Vision

EnrichVideo’s mission statement says, “We help banks and wealth management firms connect with their clients one on one with personalized and interactive video experiences.”

EnrichVideo – Business Model

Through a patent-pending video generating system, EnrichVideo provides financial advice and news to stock market investors in the United States. The company has applied for a patent for a technology that allows anybody to produce and submit movies regarding stocks. For bloggers, this is very useful.

The Amigobulls Business Model changed to make it feel more personal. Using typical digital techniques such as a client site, smartphone app, or chatbot renders the experience impersonal and lifeless. That is why EnrichVideo was created: to restore the human touch to your digital client communication.

Wealth managers may communicate with their clients on a regular basis and collect feedback from them using EnrichVideo without being intrusive or overbearing. It assists people in identifying dissatisfied customers long before they start transferring their assets to competitors. The firm also assists people in upselling to their satisfied customers.

EnrichVideo – Revenue and Growth

The EnrichVideo annual revenue is $5 Million in quarter 2 of 2021. It used to be $7 Million in FY21.

EnrichVideo – Funding and Investors

EnrichVideo has not raised any funding till date but Amigobulls funding is as follows:

Date	Round	Amount	Lead Investors
Sep 22, 2015	Seed Round	–	–

Investor Name	Lead Investor	Funding Round	Partners
Vijay Anand	–	Seed Round	–
Sharad Sharma	No	Seed Round	–
Lets Venture	–	Seed Round	–

EnrichVideo – Competitors

Heckyl, Cogencis, Lets Talk Payments, Golden Hills Capital, Biorx Venture Advisors, Tickerplant, RavenPack International S.L., and Vermillion Engineered are among EnrichVideo’s key competitors.

EnrichVideo – Future Plans

Wealth management businesses, banks, and brokerages use Amigobulls’ EnrichVideo Platform to provide tailored, interactive video summaries as part of their portfolio statements. EnrichVideo’s clientele includes some of the world’s top asset management organizations, such as IIFL Wealth Management.

“At Amigobulls, we believe that good design can simplify finance and enhance client engagement. We now offer our customers video statements that look real and beautiful. Our natural looking videos are overlaid with meaningful text and charts to create video statements that wow HNI clients,” said Amigobulls CEO Chandu Sohoni.

Data security and business continuity were two of the ISO certification’s main focus areas. Amigobulls underwent extensive testing and a comprehensive technical and procedural examination by a third-party auditor to ensure conformity with the ISO standard. Customers of Amigobulls may rest assured that their data is always safeguarded in accordance with these standards thanks to this accreditation. And all of these safety precautions have been transferred so EnrichVideo as well.

“Security has always been a top priority for Amigobulls as we deal with financial data and information. Leveraging the ISO framework for continuous review and implementation of our Information Security management controls, provides our customers the assurance and the confidence in our ability to handle sensitive information,” Chandu further added.

EnrichVideo – FAQs

Where are Amigobulls’ headquarters?

Amigobulls’ headquarters are in 3260 Hillview Ave, Stanford Research Park, Palo Alto, California, 94304, United States.

What is Amigobulls’ industry?

Amigobulls is in the industry of: Investment Banking and Fintech.

Who are Amigobulls’ main competitors?

Heckyl, Cogencis, Lets Talk Payments, Golden Hills Capital, Biorx Venture Advisors, Tickerplant, RavenPack International S.L., and Vermillion Engineered are among Amigobulls’ key competitors.

What is Amigobulls’ Revenue?

Amigobulls’ revenue is $5 Million.

Is Amigobulls and EnrichVideo the same?

Yes, Amigobulls was rebranded to Enrichvideo in 2018.

June 21, 2021

CreditMantri – Enabling People To Access Quality Financial Services

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by CreditMantri.

Credit scores are used by insurers to determine premiums for auto and home insurance. They are used by landlords to determine who is eligible to rent their units. Who gets the finest cell phone plans and who has to put down larger deposits for utilities is determined by credit scores. In other words, credit ratings are a financial instrument, but their effectiveness as a lever or a hammer relies on how excellent they are.

Credit scores affect whether or not you are eligible for loans and the interest rates you will be paying. One’s credit ratings influence far more than the kind of loans one can acquire and the interest rates they pay. People can get a credit score assessment and a credit improvement program from CreditMantri. It educates clients about their credit history and uses that information to improve or enhance their probability of getting a loan or credit card.

CreditMantri – Company Highlights

Startup Name	CreditMantri
Headquarters	Chennai, Tamil Nadu, India
Industry	Financial Software, Fintech
Founders	Ranjit Punja, Gowri Mukherjee, and R. Sudarshan
Founded	2012
Areas Served	India
Website	www.creditmantri.com

CreditMantri – Latest News
About CreditMantri and How it Works?
CreditMantri – Name, Logo and Tagline
CreditMantri – Founders and History
CreditMantri – Mission and Vision
CreditMantri – Business Model
CreditMantri – Partnerships
CreditMantri – Funding and Investors
CreditMantri – Competitors
CreditMantri – Challenges Faced
CreditMantri – Future Plans
CreditMantri – FAQs

CreditMantri – Latest News

As of March 2017, Quona Capital and others contributed $7.6 million to CreditMantri. According to CreditMantri, the investment round was headed by Accion Frontier Inclusion Fund, managed by Quona Capital, with participation from Newid Capital and current investors Elevar Equity, IDG Partners, and Accion Venture Lab.

According to Ranjit Punja, co-founder and chief executive officer, the funds will be used to acquire new customers, invest in the technological platform, develop new products, and increase the staff.

About CreditMantri and How it Works?

CreditMantri, situated in Chennai, India, is a digital credit facilitator. The objective is to use technologies and digital means to empower borrowers and lenders alike, allowing them to make more informed credit-regarding decision making.

CreditMantri is a credit facilitation platform that assists consumers in making borrowing decisions. Consumers can examine and evaluate their credit potential, apply for loans, and make optimal credit decisions using the company’s credit facilitation platform, which provides free credit health analysis for easing borrowing decisions.

Individuals are given a strategy to improve their credit score and record, and the company works with them to enhance their loan/credit card eligibility and lower their EMI expenses. It also assists people in obtaining their CIBIL report, providing a credit scan, and conducting analysis, and providing a credit health report.

CreditMantri’ s services for clients with little or no credit history, as well as those with bad credit, are distinctive in that they help customers establish or recover their credit history. Most importantly, CreditMantri connects these consumers with the proper financial product lines depending on their credit score in the process.

CreditMantri provides a variety of lender-specific solutions, including:

Credit items are listed on a marketplace.
Solutions that allow lenders to offer products to people who have never had credit before by allowing rapid credit decisions based on other data.
Services for Verification

CreditMantri collaborates with more than 50 lenders and offers more than 50 loan products and services.

CreditMantri – Name, Logo and Tagline

CreditMantri’ s Company Logo

The company description says, “When data sciences, technology and financial services veterans come together, it creates an opportunity to bring out change.”

CreditMantri – Founders and History

CreditMantri was founded in 2012 by former bankers Ranjit Punja, Gowri Mukherjee, and R. Sudarshan to increase access to financial services for India’s low-income people.

CreditMantri' s Founders - Ranjit Punja, Gowri Mukherjee, and R. Sudarshan — CreditMantri’s Founders – Ranjit Punja, Gowri Mukherjee, and R. Sudarshan

“A lot of consumers are not even aware of what their credit report looks like,” says CreditMantri co-founder Gowri Mukherjee. She explains how the company uses not only information from credit bureaus and banks, but also government records and “user-generated data” — social media, SMS data, calling records — to help their customers present a more detailed and robust account of their creditworthiness. “The neutral credit segment, which has never borrowed before and for whom data in the bureau is very shallow, actually has the most benefit,” she says.

Gowri Mukherjee, an experienced financial services worker, considers her work both personally and professionally rewarding.

“The number of users who have genuinely grasped where they stand in terms of their credit profile has been the most rewarding thing for me,” she says.

Millions of people in India’s fast-rising economy have little or no experience with official credit intermediaries, making it nearly hard for them to obtain loans because they have no credit history. CreditMantri, a Chennai-based business, has developed a proprietary algorithm that incorporates additional data sources to create more comprehensive credit profiles.

The expansion of credit bureaus such as TransUnion, Equifax, Experian, and CRIF High Mark about a decade ago helped to foster a healthy credit culture, but it also resulted in the exclusion of many people due to low credit or previous defaults. Unja sought to assist those who had been neglected. The start-up got $2.5 million under series A funding in May 2015 from Elevar Equity, IDG Ventures and Accion Ventures.

“We provided the credit score for free,” Punja claims. The free service proved to be a huge hit. “It was a big turning point in the company’s journey,” he says.

Over the last eighteen months, CreditMantri has delivered a number of first-to-market services:

Credit history as well as score analysis online, with support for multiple bureau forms
An online problem-solving tool for resolving outstanding debts and concerns with problematic lending accounts.
Using a variety of data sources to enhance a user’s credit profile
A real-time rule engine that compares lender credit criteria to borrower credit profiles in real time.

CreditMantri is the 1st company in the industry to offer a Free Credit Health Check Online, which includes retrieving the user’s credit report and offering an online analysis. CreditMantri’ s goal is to put people in control of their credit decisions. The diversified team consisting of 50+ people, which has extensive experience in financial services in the credit, collections, and digital sectors, is focusing its efforts on meeting the demands of lenders and borrowers with various credit histories and risk appetites.

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CreditMantri – Mission and Vision

CreditMantri aspires to change the way people think about credit by providing them with transparent and accountable lending solutions. Everything the company does is based on its core values. Only when users perceive the value given have they become actual enablers.

Company’ s Core Beliefs :

Improvements in technology and analytics, according to the company, should benefit consumers by assisting them in making educated decisions and providing them with more options.
Only when people perceive the value given will the corporation become actual facilitators. As a result, it focuses on providing services and solutions that are tailored to meet genuine market demands.
The most expensive form of credit is none at all.
The company’s goal is to make basic, straightforward financial products available to help people improve their lives.

CreditMantri – Business Model

The company’s web portal allows both borrowers and lenders to make better credit judgments. The CreditMantri business model is based on financial institutions paying CreditMantri a commission when a loan is approved for a customer. Getting new clients is the company’s biggest difficulty.

The business model has grown to accommodate a wide range of consumers, from “first-time credit searchers” to “credit challenged” and “credit healthy” individuals. This fintech company currently serves over 10.5 M people and provides access to over 3,000 data points.

The business model has evolved to make credit more accessible to everyone. CreditMantri provides real-time credit decisions to banks and NBFCs. The firm employs both classic and nontraditional data sources. CreditMantri also offers ‘new to credit bureau’ and existing borrowers loans and credit cards based on alternative data sources. The free credit bureau score is a good place to start. “A lot of our consumers come to us for a free score,” Punja explains.

CreditMantri also offers a credit gateway or B2B profiling solution for businesses interested in credit profiling data, such as insurance, brokerage, and furniture rental organizations.

CreditMantri – Partnerships

CreditMantri examines a customer’s credit history over the previous 36 months in order to form a reliable financial assessment of their creditworthiness. CreditMantri has deals in place with Equifax, a credit reporting service based in the United States, as well as Indian financial institutions such as ICICI Bank and DCB Bank.

Its platform is used by over 55 lenders, including major public, private, and foreign banks and NBFCs, to source customers and engage in the resolution of prior debts. Some of its big partners include Bajaj Finance, Mannapuram, HDFC Bank, ICICI Bank, Chola Mandalam, Axis Bank, Tata Capital, and others. CreditMantri then assists the user in improving their credit score by recommending loans and credit cards that are appropriate for their needs and lowering borrowing expenses.

CreditMantri – Funding and Investors

The CreditMantri funding is as follows:

Date	Round	Amount	Lead Investors
May 18, 2020	Venture Round	₹60M	—
Jan 1, 2019	Debt Financing	–	Trifecta Capital Advisors
Feb 28, 2017	Series B	₹514M	Quona Capital
Jun 26, 2015	Series A	$2.5M	—

CreditMantri – Competitors

BankBazaar, Maveric Systems Limited, KredX, SysArc Infomatix Pvt Ltd, Credit Karma, WeCash, CreditVidya, IndiaLends, and Credit Sudhaar are CreditMantri’ s main competitors.

CreditMantri – Challenges Faced

Someone with a poor credit score, often known as thin file credit, may be unable to get credit services such as loans or credit cards. Understanding the factors that influence a credit score is necessary for improving it. CreditMantri assists Indians in taking control of their credit health and making more informed borrowing decisions. People can take actions to enhance their creditworthiness and access financial possibilities that were previously inaccessible to them once they understand their creditworthiness.

Getting new clients is the company’s biggest challenge. Furthermore, moving credit scoring power from credit bureaus to customers necessitates education of those at the bottom of the pyramid.

“In the past two years, we have tripled our revenues,” says Punja, without disclosing numbers. The business faces challenges in terms of government’s stance on utilisation of data and the future regulatory framework. “We maintain a very higher standard, but we do think about how things (data use regulations) will play out,” says Punja.

Banks that are digitizing and using artificial intelligence and machine learning to generate better scoring models, according to experts, will compete with the corporation. Similarly, credit bureaus are developing new services to meet the needs of their customers.

CreditMantri – Future Plans

Ranjit Punja, the 49-year-old Founder and CEO of CreditMantri in Chennai, is unlike many other Fintech entrepreneurs. He worked for Citibank for for two decades before succumbing to the entrepreneur itch. R. Sudarshan, Chief Operating Officer, and Gowri Mukherjee, Chief Marketing Officer, are the other two co-founders.

In 2012, the trio started their business by providing credit improvement services, or assisting borrowers in improving their credit scores so that they could obtain credit from banks and non-bank finance providers. Punja explains, “The objective was to aid folks who are credit challenge,” which according to her is still the same.

“We aim to make credit more accessible to everyone,” Punja explains. CreditMantri can assist someone who wishes to increase his credit score. Consumers with a poor credit history or low credit ratings can obtain aid online and connect with lenders to erase their debts. This enables credit-challenged individuals to receive assistance in improving their credit history, after which banks and financial organizations are willing to lend to them.

CreditMantri – FAQs

When was CreditMantri founded?

CreditMantri was founded in 2012.

Who founded CreditMantri?

CreditMantri was founded in 2012 by former bankers Ranjit Punja, Gowri Mukherjee, and R. Sudarshan to increase access to financial services for India’s low-income people.

Is CreditMantri Safe?

Yes, CreditMantri is a reliable website.

How does CreditMantri make money?

The business model is based on financial institutions paying CreditMantri a commission when a loan is approved for a CreditMantri customer. Getting new clients is the company’s biggest difficulty.

Which companies do CreditMantri compete with?

BankBazaar, Maveric Systems Limited, SysArc Infomatix Pvt Ltd, Credit Karma, WeCash, CreditVidya, IndiaLends, and Credit Sudhaar are CreditMantri’ s main competitors.

June 18, 2021

Top-Notch Entrepreneur, Milan Ganatra’s View on Fintech Industry [Exclusive Interview]
StartupTalky interviewed Mr. Milan Ganatra, a prominent face in the wealth management community to get his professional opinions and views on the Fintech Industry in India. He brings with him more than two decades of experience in financial services. This serial entrepreneur and investor founded Miles Software, a path-breaking company in the fintech space.

As an individual, Milan Ganatra believes that life is a beautiful journey where it is essential that one constantly grows, gains experiences, and learns new subjects. Milan continues to believe, despite increasing competition, that fintech has enormous potential. With a solution-oriented mind, he is interested in finding like-minded partners with whom he can invest in ventures within the sphere of fintech. A prime example of this is his investment in Financepeer and Finalyca after his exit from Miles Software.

His eagerness to explore urged him to invest and form a disruptive fintech platform – 1Silver Bullet, which provides gateway infrastructure for a range of tech-based avenues such as Edtech, Agritech, Insurance, Traveltech among others. Milan is a member of the Advocacy & Knowledge Management Committee for the Indian Institute of Alternative Investments funds, as well. He also consults several banks and financial institutions. Known for his dedication to his profession, he is always excited to hear new ideas, invest in new projects, and offer innovative solutions.

Let’s see what Mr, Milan Ganatra has got to say on the Indian Fintech Ecosystem in the post ahead!
1. What is the main motto of 1Silver Bullet? How does it work?

With 1Silver Bullet we are trying to democratize the digitization of the financial space. Despite the recent emphasis on digitization, there are still glaring gaps that neither incumbents nor fintech have managed to cross over. With 1Silver Bullet our effort is to lay down the infrastructure and provide a well-thought digitization framework that can help these organisations to transform their legacy systems in a smooth, efficient, and time-bound manner. We lay down the framework and provide them with the tools so that they can focus on their core business.

2. According to your expertise & knowledge, what are the top trends you’ve witnessed in the Indian FinTech ecosystem?

The most striking trends in the fintech ecosystem are centered around how these new-age companies have disrupted the status quo. They quickly seized the ground from incumbent players by introducing technology to improve and simplify processes. The three topmost fields where we saw fintech companies make their mark are:
- Payments: Apps like GPay and Paytm are some of the most popular payment apps. They completely revolutionized how people in India make payments today
- Banking: The success of fintech shows how banks have no choice but to keep up with the pace set by these neo banks. While most of the neo banks have an anchor point, like investment or SME, what they offer is a holistic experience.
- Investment or brokerage: Groww, Zerodha or Upstox offer a completely different experience to investors, making it more democratic, accessible, and easy-to-use than any other traditional means. They have opened access to users who are tech-savvy willing to explore investment options that otherwise would sound complex. Consequently, they have grown very quickly in a very short period.
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3. What change did you witness in the Fintech Industry of India in the pre & post-covid era?

The COVID crisis is a watershed moment in our history and it has left an undeniable impact on every aspect of our life. The fintech industry is no exception. In general, we have seen that digital platforms found a wider acceptance with the spread of digitization and there is good reason to stay bullish about the future.

A recent report by Matrix Partners and McKinsey & Company shows that fintech across different segments have experienced mild to major disruptions with the lending sector being the most affected. In wealth management and insurance, we have seen some positive moves. The pandemic has also forced some segments to put a hold on their new products with 50% of the neobank delaying product launches. But these disruptions notwithstanding, the outlook is quite optimistic on future growth. This comes from an increasing acceptance of fintech and the wide adoption of technology across sectors. For instance, incumbent institutions like banks are now tying up with fintech to improve their digital presence, boost reach, and create a more efficient delivery of products.

Fintech Industry

4. How can one keep up with the growing usage & advancement of technology in the Fintech space?

What is considered cutting-edge tech today will get obsolete very soon. The only way to keep up is through investing in continuous Research & Development (R&D) and keep upgrading the tech stack. The other equally important aspect is the service. User expectations change with time and with increasing competition. We have to keep improving and innovating. The agility to disrupt yourself is the key mantra for any fintech to survive. It must have the agility to adapt, the will to improve, and the tenacity to keep looking for a way forward.

5. Highlight the role of AI / ML- driven performance analytics in the fintech space

Artificial Intelligence and Machine Learning have transformed the fintech space and will continue to be the drivers in its growth. The evolution of Robo-advisors and its growing impact on wealth management is a perfect example of how these technologies can create a revolution. But there are many other myriad ways in which we use AI/ML to create more efficient and secure services while improving the accuracy of our processes. Something as simple, but critical, like automated customer support, rely on AI/Ml to reduce human intervention, gather data, create a more efficient, and quicker turnaround for the customer. But it’s not just performance analytics, AI/Ml is a game-changer when it comes to predictive analytics.

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6. What do you think is the future of the Fintech space?

Given that India has the highest fintech adoption rate in the world, we can safely predict a bright future for the industry. In Asia, the Indian fintech industry has already pipped China to lead investments with close to $286 mn from 29 deals, against China’s $192.1 mn from 29 deals in Q1 2019.

Despite the COVID-19 slowdown we can expect an annual growth rate of 20.2% till 2023. We may need some course correction in the short term to counter the impact of the pandemic, but in the long term, I see fintech gaining more and more ground as digitization becomes the norm.

7. How effective is the role of Robo Advisory in Investment management? What does the future behold? How will it impact the employment of potential prospects?

Robo-advisors are the most efficient online investment management services that employ mathematical algorithms to offer financial advice with nominal human intervention. The AI helps manage clients’ assets in a structured and strategic manner. It also understands and predicts investor behavior. This helps build a comprehensive investor profile giving in-depth and accurate information on the investor liabilities, spending patterns, and likely behavior. While it does everything in an automated fashion, the human interface is crucial to monitor the performance from time to time. We cannot say that it will eliminate human advice.

“Humans and machines will work in harmony in the space of investment advisory”

In terms of its impact on skills in the wealth management industry, we are already seeing a greater demand for technical training to work with Robo advisors. We will need coders, analytic experts, and wealth managers who can work with data, AI, and machine learning.

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8. From ideation to evolution & ultimate revolution – how can one be successful in this journey with growing technological advancement in the fintech space?

Like any other revolution, success always begins with an idea. But it does not necessarily have to be unique. Some of our most successful businesses today are testament to the fact that it is rarely the first-mover advantage that works. What takes an idea from its germination to a decisive success, is the execution. When it comes to fintech, we first see if the concept simplifies a complex process, if it makes the life of a consumer easy.

Next, we see if it can be scaled up. Then comes the hard work of fine-tuning the initial concept. We have to continuously listen to the customers, understand their pain points. The revolution comes only when we provide the customer with a unique and amazing experience.

“There is no magic and no short-cuts here, just hard work”

9. How safe is the customer data in Fintech space? How do you suggest customers distinguish a legitimate fintech platform from a fraud/illegitimate/unregistered?

The safety of consumer data is the most serious issue facing the fintech industry and it must be addressed urgently if we want to keep our momentum and gain wider acceptance. To avoid falling for a fraudulent fintech, consumers are advised to stay vigilant. Beware of any platform that tries to impose a quick decision, does not carry out standard verification procedures, is unclear on its fee, or does not carry a physical address on the website. At the very least it should have a secure https:// web address.

But there is undoubtedly a larger and more fundamental problem of safety that we face today, which can make a serious dent in our trustworthiness in the industry as a whole. We need a singular tech-focused regulator that can enforce compliance, not the current fractured structure that stays divided between RBI, SEBI, and IRDA. We must hold fintech responsible in the way we hold banks liable. Until a regulator steps in (as it eventually will), responsible fintech should follow best practices, such as disclosing vulnerabilities, to reassure customers.

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10. With your recent investment in 1Silver Bullet & Finalyca, Are you planning to invest in any more upcoming fintech startups or thinking about a whole new yet another innovative venture?

I am exploring completely new domains. I have recently invested in Halaplay, a part of Nazara Technologies which is a listed Indian gaming and sports media platform. Online gaming is an interesting space to grow and thrive in. A new venture is something I will talk about when I am ready to announce it.

11. How can one potentially connect with you to either present ideas, get innovative solutions/mentorship or investment and stand out from the crowd?

Mr. Milan Ganatra’s Email ID: Milan@ganatramail.com

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12. How do you scrutinize the list of startups before making an investment? What do you expect?

When we evaluate a startup for an investment, there are a few factors we are looking for. These centre around the founder, the concept, and the founding theme. The founder’s passion and commitment towards their idea is the first thing we check. Then comes the potential of the concept in terms of its scale. Does it address a generic or exemplary issue? Finally, we come to the founding theme and its clarity. Our focus is on the planning involved, whether it is detail-oriented and quality conscious.

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13. From Miles Software to 1Silver Bullet – Your out-of-the-box ideas & innovations is commendable! What would you advise the budding fintech platforms?

“If you think you have an idea, come out of your comfort zone and pursue it. There is no better time than today to pursue your dream. You may have to go through some struggle but believe in yourself. Be passionate about your idea”

Conclusion

The Indian Fintech ecosystem has seen tremendous growth, even during the pandemic times. Given that India has the highest fintech adoption rate in the world, we can safely predict a bright future for the industry. In Asia, the Indian fintech industry has already pipped China to lead investments with close to $286 Mn from 29 deals, against China’s $192.1 Mn from 29 deals in Q1 2019. Despite the COVID-19 slowdown we can expect an annual growth rate of 20.2% till 2023.
June 4, 2021
KredX – The Ultimate Invoice Discounting Tool For Businesses
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by KredX.

Invoice Discounting, also known as Invoice Bill Discounting, is a method for a business to get working profits by issuing an invoice to a lender at a lower price than that mentioned on the bill. In this setup, the seller obtains the payments well ahead of the bill’s due date and can put the money to good use in his enterprise.

KredX, headquartered in Bangalore, Karnataka, is a web-based invoice discounting tool that allows businesses to fundraise for their operating expenses.

KredX – Company Highlights

Startup Name KredX

Headquarters Bangalore, Karnataka

Industry FinTech, Financial Services

Founded Sep, 2015

Founders Anurag Jain, Manish Kumar

Website www.kredx.in

KredX – Latest News
About KredX and How it Works?
KredX – Mission and Vision
KredX – Name, Logo and Tagline
KredX – Founder and History
KredX – Products and Services
KredX – Business Model
KredX – Revenue And Growth
KredX – Funding and Investors
KredX – Acquisitions
KredX – Competitors
KredX – Challenges Faced
KredX – Future Plans
KredX – FAQs

KredX – Latest News

As of December 2019, KredX, an invoice discounting platform, has raised $26 million (nearly INR 184 crore) in Series-B fundraising led by Tiger Global Management, with participation from previous investors. In 2016, Sequoia Capital and Prime Venture Partners invested INR 40 crore in the company’s Series-A investment. The Bengaluru-based venture assists businesses with short-term financing needs by paying bills and receivables.

According to the company’s most recent data, KredX has handled over 500,000 invoices, assisting more than 5,000 suppliers through 10,000 investors in 36 locations around the country. Scott Shleifer, Partner at Tiger Global, remarked, “I believe the firm (KredX) has developed an efficient and reliable loan marketplace connecting Indian companies with institutional investors.”

About KredX and How it Works?

KredX is a company that creates an invoice-discounting platform that allows businesses to grow without having to worry about collateral. The business’s platform provides an investing software that connects micro, small, and medium-sized businesses seeking working capital with individual lenders, allowing firms to obtain working money quickly by selling outstanding receivables.

KredX is a platform where company owners can sell invoices raised on large cap firms and investors can buy them. By purchasing these future income flows, investors wishing to invest money for a short period of time (1-3 months) can earn substantial returns. It creates a whole new financial asset class by combining advanced software with credit underwriting and data and analytics expertise. This platform allows business owners searching for a cash advance on invoices raised against big-name institutions to sell these outstanding bills at attractive rates.

KredX assisted the business in managing its finances while maintaining that its client relationships were not jeopardized. They were able to grow and develop their business by partnering with KredX, raising liquidity without affecting the balance sheet. KredX’ s customized methods and structured solutions assisted the organization in effectively allocating resources for its expansion needs.

KredX – Mission and Vision

KredX was founded in 2015 with the sole purpose of assisting businesses with their working capital needs by leveraging an asset that sits dormant on their balance sheet in the form of accounts receivable.

KredX – Name, Logo and Tagline

KredX’ s Company Logo

KredX believes in improving people’s lives through its intuitive and innovative products, and its work culture reflects this belief. The team is dedicated to achieving the “all work and must-play” aim.

KredX – Founder and History

Anurag Jain is the Founder and Executive Director of KredX. KredX was founded in 2015 with the sole purpose of assisting businesses in overcoming cash flow difficulties and hence boosting growth.

The KredX range of products grew from an invoice discount platform to handle greater concerns including early payments for corporate treasuries through Early Payments Technology and Growth Capital solutions. At present, KredX is India’s biggest cash flow solution provider, providing unique capital solutions to businesses and their suppliers while also providing investors with a unique opportunity to make low-risk, high-return investments.

With just INR 2 lakh in the capital, the company that began with the goal of providing cost-effective goods and solutions in all areas of IT has developed into a professionally run supply-chain specialist with a revenue of INR 3400 crore.

On a daily basis, the company’s unshakable devotion to customer experience, irrepressible desire for excellence, seamless coordination among team members, and solid business ethics lead to a large and diverse clientele. The payment cycle can be pushed out across a few weeks in such instances. Dealing with major vendors whose payment timeframes may fluctuate, ultimately influencing their finances, is important to any company’s business growth.

KredX – Products and Services

The KredX Product Suite is a collection of following KredX products:
- Working Cash Solution – Enabling businesses to obtain working capital in a short period of time while also giving investors with a lucrative return on their investment.
- Growth Capital Solution – KredX’ s growth capital solutions assist firms in overcoming obstacles by offering upfront funding for expansion and growth.
- Early Payments Technology — A cloud-based technology solution that allows businesses to make discounted early payments to their vendors.
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KredX – Business Model

KredX is a digital invoice discounting platform that allows businesses to acquire funds for working capital needs at advantageous terms by selling outstanding bills raised against blue-chip firms, while also giving investors a unique short-term investment opportunity.

The KredX business model is an alternative investment model in which you can begin investing with a minimum of 3 Lacs for a short period of time and expect a fixed return at the end of the investment period, which can range from 30 to 90 days. Annual returns range from 12 percent to 20 percent (as per their marketing material).

KredX – Revenue And Growth

At present, KredX’ s revenue is $31 Million. Through its network of lenders, digital lender KredX said it will disburse INR 1,000 crore in loans in the fiscal year 2021 through its revenue-based financing (RBF) product, with an emphasis on consumer brands and software-as-a-service (SaaS) firms.

Through its revenue-based financing product, KredX has disbursed loans to a number of brands trying to sell on e-commerce platforms like Flipkart, Amazon, and Myntra in the last two years.

KredX – Funding and Investors

Date Round Amount Lead Investors

Dec 11, 2019 Series B $26M Tiger Global Management

Oct 25, 2016 Series A $6.3M Sequoia Capital India

Apr 13, 2016 Seed Round $750K –

KredX – Acquisitions

Acquiree Name About Acquiree Date Amount

Hummingbill Hummingbill is a B2B invoice platform that helps vendors and enterprises run more efficiently, using email plugins. Mar 1, 2017 –

KredX – Competitors

Top Competitors of KredX are :
- SAP Concur.
- Webexpenses.
- Replicon PSA.
- Bill.com.
- SAP Ariba.
- Spendesk.
- Stampli.
- AvidXchange
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KredX – Challenges Faced

The organisation tried a variety of financial aid options in search of solutions to meet their needs, but there were a number of issues with the options, the most significant of which was the time needed in the process. There are various issues with the offerings, the most significant of which is the amount of time required to complete the process. Other disadvantages included:
- Reduced the funding limit in accordance with existing policies and procedures.
- To access standard offerings, the organization had to provide collateral and financial information.
- Other types of short- and long-term financing were prohibitively expensive.
- Obtaining capital for liquidity and expansion is a challenge.
KredX – Future Plans

“Being in the B2B payment ecosystem, our transaction processing volume has crossed $2.4 billion annually and is forecast to double in the next twelve months. With wider acceptance of our products, we are well-positioned to serve the entire spectrum of the supply chain for any company,” said Anurag Jain, executive director, KredX.

More than 120 companies use the platform, including Tata Croma, Future Group, and Vedanta. The company intends to use the additional funds to hire senior executives in order to accelerate its expansion. It also plans to use the capital to develop new products and make acquisitions.

According to the company’s data, KredX has handled over 500,000 invoices, assisting more than 5,000 suppliers through 10,000 investors in 36 locations around the country.

” I believe the company (KredX) has created an efficient and trusted lending marketplace connecting Indian companies with institutional investors,” said Scott Shleifer, Partner, Tiger Global.

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KredX – FAQs

What does KredX do?

KredX is a company that creates an invoice-discounting platform that allows businesses to grow without having to worry about collateral.

Who founded KredX?

Anurag Jain founded KredX in 2015.

Where is KredX headquartered?

KredX is headquartered in Bangalore, Karnataka.

Which companies do KredX compete with?

KredX competes with SAP Concur, Webexpenses, Replicon PSA, Bill.com, SAP Ariba, Spendesk, Stampli, and AvidXchange.
June 2, 2021
How UPI Payments Impacted FinTech Industry?
The term “FinTech” is the combination of finance and technology and is referred to the provision of new solutions in the field of finance by IT venture companies. New business models are being created one after another, particularly in the area of B to C services using the Internet. The major difference between these new businesses and traditional finance companies is their thought regarding IT investment.

The use of information technology is generating dramatic changes in financial services making it more easier and efficient to use. Payment services were previously having the players like banks and credit card companies, but now variety of new players have entered the field making it more easier and beneficial for the people of the country. Correspondingly, UPI payments impacted FinTech Industry.

Why is UPI growing at such a rate?
How UPI impacted the fintech industry in India?
Conclusion
FAQs

Why is UPI growing at such a rate?

UPI Payment Apps
- One of the reasons why UPI services has been adopted globally with trust. When you use UPI to pay for things, card information is not shared with merchants, meaning that even if the merchants are hacked, people using UPI payments are safe from leaking information.
- Another reason why UPI payments is revolutionizing the Fintech Industry is its hassle free approach to pay and register. All that is required to validate your UPI is simply an authentication of your Aadhar card, your finger prints are scanned and your mobile phone number is verified.
The Indian society have a strong fear of fraud, both in physical retail and online. Although governmental interventions to use digital transfer modes for payments had taken place in India, it is still a very cash-based society. If we take a look at credit card usage, which is a basic form of digital payments, adoption of such payment services are low in the states of India as compared to the US, UK, Japan or South Korea. Building trust in digital payments services is the key.

The take-up of digital payments or any other FinTech services will be about how the FinTech industry can provide customers with comfort and trust, enabling them to feel safe and secure using the service. The use of mobile is already driving the biggest change in financial services history. Mobile is considered as the fastest mass adoption of a technology in history than any other technology. There are already 7.2 billion mobile devices today. With UPI payment services, mobile was only 1% of all transactions in 2010, it is now above 45% in 2019.

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How UPI impacted the fintech industry in India?

FinTech Industry

CEO of National Institution for Transforming India (NITI), Amitabh Kant in an interview had said that Fintech market in India is likely to expand to $31 billion in 2020 and this owes largely to the use of UPI payments. This is mostly because India is the only country in the world with over a billion mobile connections and bio-metrics, provides an enough scope and opportunity for penetration of fintech technology.

Indian FinTech market is estimated to jump to $140 billion in 2023 and by 2025, Fintech industry valuation is estimated at $150-160 billion.
- UPI has made payments easier: Gone are the days, when people used to carry huge bundle of cashes as they traveled or visited a restaurant. With the introduction of UPI payments, it is now become an easier and more secure while travelling.
- UPI has made the buying and selling easier through e-commerce: UPI has made the buying and selling through fintech app solution, easier for the e-commerce companies. When a diverse range of devices are connected via the Internet of Things (IoT), it possible to obtain historical data concerning peoples’ daily activities. Using these life-logs, the e-commerce platforms are able to analyse patterns of regular and illicit activity, increasing their ability to detect illicit activity.
- Enhancing trust for both customers and businesses: UPI payments has initiated and created a trust between the buyers and sellers. This is due to the privacy that is maintained within the system. UPI transactions are always payer initiated and demands the approval of the payer by an OTP. This is focused on person-to-person (P2P) transfers.
- Payments via UPI are extremely quick: Another noteworthy feature of the UPI that has created a huge demand for it in the Fintech industry is that the payments or transactions are done extremely swift. There is no lag and delay which helps in the smooth flow of business.
- With UPI you can directly link your account to the BANK and there is no need for virtual wallets: There are many virtual wallet companies like Paypal, PayTM, Mobikwik etc, which requires you to put some money within the virtual wallet, but with the use of UPI payment you can directly use the money from your savings account.
- You may also keep a record of your bank transactions through UPI: UPI also enables you to keep a record of the withdrawals and deposits, this saves time for people who would have otherwise visited the bank to update their passbooks. This creates a major benefit for the elderly people who do not need to visit banks and they can transfer whatever amounts they want through an application.
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Conclusion

UPI in the last two years has made another innovation where you can request credit through your overdraft (OD) account. This latest value addition eliminates the risk of fraud credit card calls and the risk assessment involved through traditional credit facilities from banks. Thus we can rightly say that a culture of innovation and entrepreneurship has emerged with the use of UPI in the Fintech Industry and we could not have been more proud. It Revolutionised the idea of daily payments and also improvised on the security of transfers.

FAQs

What is UPI full form?

UPI’s full form is Unified Payments Interface.

What is UPI in banking?

Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI).

What is a FinTech industry?

FinTech stands for Financial technology. FinTech is an economic industry that includes companies that use technology to make financial services quick and efficient.

What is UPI Technology?

UPI is a unified interface of NPCI that merges various banking services and wallets payment and other features under one payment system. One UPI ID and a pin are generated. A UPI ID and Pin are used to send and receive money and real-time bank-to-bank payments can be made.
May 18, 2021
What is the New Community Platform Launched by Paytm for Learning Investment

The digital fintech startup Paytm has recently announced that it has launched a platform for its users to learn about investing. It has launched a video-based wealth community platform(Currently in beta stage) for the users to learn investing. Let’s look at the further details of the New Community Platform Launched by Paytm for Learning Investments.

About Paytm
Paytm Wealth Community
Reason for launching wealth community
Platform
Beta testing
Creating a Personal Brand
FAQ

About Paytm

Paytm is an Indian based multinational startup company. They are an e-commerce payment system and a financial technology company that has its headquarters located in Uttar Pradesh, India. The company was founded in the year 2010.

The abbreviation of Paytm stands for “Pay Through Mobile” and it encourages it with its famous tagline ‘Paytm karo’. The company was founded by Vijay Shekhar Sharma. Some of the company’s products are Paytm Mall, Paytm Payments Bank, Paytm Money, Gamepind, Paytm Smart Retail.

The services offered by Paytm are Payment systems, digital wallets, mobile payments banking, online shopping, etc. Some of the key investors of the company are Ant Group, SoftBank Vision Fund, Warren Buffet’s Berkshire Hathaway, etc.

Paytm Wealth Community

On 26 April 2021, Paytm which is one of the largest fintech companies in India announced that it has launched a platform that is a video-based wealth community to revolutionize the Indians to learn, discuss and trade in the capital markets.

Paytm Wealth Community is considered to be India’s first community which will be based on investing. The platform will be video based and there will be live sessions conducted for the users of the community to ask doubts and discuss on the topics.

The live sessions will be conducted by the industry experts and will cover a wide range of topics for the users such as stocks, futures and options, ETFs, Mutual Funds, IPO, Gold, Fixed Income and Personal Finance.

Paytm Wealth Community

The platform will provide a chance for users to learn from the experts in the industry, discuss their doubts with them and also chat and grow together with their fellow learners. The users on the platform will discuss on various wealth related topics.

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Reason for launching wealth community

In today’s world, the way the youth learn, interact and transact has seen a rapid evolvement. The social interaction between peers has been greatly influenced by the growth of apps and other social media platforms.

It is seen that the social media platform and communities on various other sectors have seen a considerable growth, the digital platforms communities and groups have grown over the years, but there has not been a trustworthy digital platform and a reliable platform for wealth management.

Paytm intends to cover it up and build a trustworthy and reliable wealth management platform for the youth through its new community. It is taking a step to fulfill the requirements of the Indian Investors by launching the platform.

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Platform

The platform will contain live video content with an interactive chat platform and creators are planning to conduct the sessions for a time period ranging from 30 minutes to 60 minutes. The sessions are expected to be launched in various languages such as Hindi, Gujarati, English and many more.

The platform is under beta testing and Paytm has onboarded a limited set of users. All the creators will have to go through a KYC process which will be a step for ensuring the safety of the retail investors. All the contents will be recorded and checked.

The roadmap of the product and technology is expected to completely transform the user experience. Over the period of time, the users will be able to create a customized discussion room by setting up their creator account and will also be able to chat in a controlled environment.

Paytm expects that the next 100 million capital market investors will be originated through investment communities and social groups and the wealth community of Paytm intends to be a leader and helping the investors to save, trade and invest better.

Beta testing

Paytm has said that users who have received the access to the wealth community launched by Paytm will be able to see a calendar that will have a list of the video sessions available on the platform. The beta testing feature is expected to be for the period of two months and later it will be opened to access to all.

The CEO of Paytm money, Varun Sridhar said that Paytm money was a natural choice by the company for its beta testing platform for the wealth community. Paytm money has direct access to a broad range of investment communities and has a reach across India.

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Creating a Personal Brand

Paytm Wealth Community also offers an opportunity for the experts in the industry to create a personal brand by creating their content and sharing their knowledge with millions of budding investors. This will be a platform to create a personal brand in the capital markets industry.

The company is supporting anyone with the required skills and has a significant social impact to create a personal brand. For starting the registration process, they will have to mail to pwc@paytm.com.

FAQ

Who is the current owner of Paytm?

One97 Communications Ltd is the owner of Paytm.

Who is CEO of Paytm?

Vijay Shekhar Sharma is the current CEO of Paytm.

Is Paytm Chinese company?

PayTM is owned by an Indian company by the name of One97 Communications Ltd.

Conclusion

The capital investors in India have seen a significant rise in the last two years because of the pandemic. People are looking forward to growing their wealth through capital markets due to the layoff of jobs. Platforms such as Upstox, Groww, Zerodha and Paytm money has seen a subsequent increase in their user base.

April 28, 2021